Cash flow FedEx Corporation

Equities

FDX

US31428X1063

Air Freight & Logistics

Market Closed - Nyse Other stock markets 04:00:02 2024-09-17 pm EDT			5-day change	1st Jan Change
297.34 ^USD	+1.61%		+4.75%	+17.54%

12:21pm	Raymond James Adjusts Price Target on FedEx to $330 From $335, Maintains Outperform Rating	MT
Sep. 17	Stocks Rise Pre-Bell Ahead of Fed Policy Meeting, Retail Sales Report; Asia, Europe Gain	MT

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Published financial data: FEDEX CORPORATION

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: May	2020	2021	2022	2023	2024
Revenues	69.22B	83.96B	93.51B	90.16B	87.69B
Total Revenues	69.22B	83.96B	93.51B	90.16B	87.69B
Cost of Goods Sold, Total	52.38B	60.23B	70.1B	65.76B	63.73B
Gross Profit	16.84B	23.73B	23.41B	24.4B	23.96B
Selling General & Admin Expenses, Total	427M	428M	470M	435M	421M
Depreciation & Amortization - (IS)	3.62B	3.79B	3.97B	4.18B	4.29B
Other Operating Expenses	10.06B	11.55B	12.96B	13.36B	12.29B
Other Operating Expenses, Total	14.11B	15.77B	17.4B	17.97B	17B
Operating Income	2.73B	7.96B	6.01B	6.43B	6.96B
Interest Expense, Total	-672M	-793M	-689M	-694M	-745M
Interest And Investment Income	55M	52M	53M	198M	370M
Net Interest Expenses	-617M	-741M	-636M	-496M	-375M
Other Non Operating Income (Expenses)	-9M	-32M	13M	-107M	-70M
EBT, Excl. Unusual Items	2.1B	7.18B	5.38B	5.82B	6.52B
Restructuring Charges	-	-116M	-278M	-309M	-582M
Impairment of Goodwill	-358M	-	-	-36M	-
Gain (Loss) On Sale Of Investments	-	-	-	-	-
Asset Writedown	-77M	-	-	-81M	-157M
Insurance Settlements	-	-	-	-	57M
Legal Settlements	-	-	-210M	-35M	-
Other Unusual Items	-	-393M	-	-	-
EBT, Incl. Unusual Items	1.67B	6.67B	4.9B	5.36B	5.84B
Income Tax Expense	383M	1.44B	1.07B	1.39B	1.5B
Earnings From Continuing Operations	1.29B	5.23B	3.83B	3.97B	4.33B
Net Income to Company	1.29B	5.23B	3.83B	3.97B	4.33B
Net Income - (IS)	1.29B	5.23B	3.83B	3.97B	4.33B
Preferred Dividend and Other Adjustments	2M	11M	7M	6M	6M
Net Income to Common Incl Extra Items	1.28B	5.22B	3.82B	3.97B	4.32B
Net Income to Common Excl. Extra Items	1.28B	5.22B	3.82B	3.97B	4.32B
Per Share Items
Net EPS - Basic	4.92	19.77	14.52	15.61	17.44
Basic EPS - Continuing Operations	4.92	19.77	14.52	15.61	17.44
Basic Weighted Average Shares Outstanding	261M	264M	263M	254M	248M
Net EPS - Diluted	4.9	19.48	14.33	15.48	17.21
Diluted EPS - Continuing Operations	4.9	19.48	14.33	15.48	17.21
Diluted Weighted Average Shares Outstanding	262M	268M	266M	256M	251M
Normalized Basic EPS	5.04	17.01	12.79	14.33	16.43
Normalized Diluted EPS	5.02	16.75	12.65	14.22	16.23
Dividend Per Share	2.6	2.7	3.4	4.71	5.16
Payout Ratio	52.8	13.11	20.73	29.63	29.07
American Depositary Receipts Ratio (ADR)	1	1	1	1	1
Supplemental Items
EBITDA	6.34B	11.75B	9.98B	10.6B	11.25B
EBITA	2.8B	8B	6.06B	6.48B	7.01B
EBIT	2.73B	7.96B	6.01B	6.43B	6.96B
EBITDAR	10.37B	16.3B	15B	15.87B	16.78B
Effective Tax Rate - (Ratio)	22.95	21.62	21.85	25.94	25.79
Current Domestic Taxes	-163M	357M	431M	736M	1.4B
Current Foreign Taxes	198M	284M	317M	209M	265M
Total Current Taxes	35M	641M	748M	945M	1.67B
Deferred Domestic Taxes	476M	737M	288M	406M	-22M
Deferred Foreign Taxes	-128M	65M	34M	40M	-140M
Total Deferred Taxes	348M	802M	322M	446M	-162M
Normalized Net Income	1.32B	4.49B	3.36B	3.64B	4.07B
Interest Capitalized	54M	68M	62M	77M	81M
Interest on Long-Term Debt	726M	861M	751M	771M	826M
Non-Cash Pension Expense	-8M	-2.15B	877M	-971M	-796M
Supplemental Operating Expense Items
Advertising Expense	427M	428M	470M	435M	421M
Selling and Marketing Expenses	427M	428M	470M	435M	421M
Net Rental Expense, Total	4.02B	4.55B	5.02B	5.27B	5.53B
Imputed Operating Lease Interest Expense	871M	864M	820M	860M	962M
Imputed Operating Lease Depreciation	3.15B	3.69B	4.2B	4.41B	4.57B
Maintenance & Repair Expenses, Total	2.89B	3.33B	3.37B	3.36B	3.29B
Stock-Based Comp., COGS (Total)	168M	200M	190M	182M	163M
Total Stock-Based Compensation	168M	200M	190M	182M	163M

Fiscal Period: May	2020	2021	2022	2023	2024
Assets
Cash And Equivalents	4.88B	7.09B	6.9B	6.86B	6.5B
Short Term Investments	-	-	-	-	360M
Total Cash And Short Term Investments	4.88B	7.09B	6.9B	6.86B	6.86B
Accounts Receivable, Total	10.1B	12.07B	11.86B	10.19B	10.09B
Total Receivables	10.1B	12.07B	11.86B	10.19B	10.09B
Inventory	572M	587M	637M	604M	614M
Prepaid Expenses	828M	837M	968M	962M	637M
Deferred Tax Assets Current	-	-	-	-	-
Other Current Assets, Total	-	-	-	-	8M
Total Current Assets	16.38B	20.58B	20.36B	18.61B	18.21B
Gross Property Plant And Equipment	78.94B	85.46B	91.89B	97.97B	102B
Accumulated Depreciation	-31.42B	-34.32B	-37.18B	-39.93B	-42.9B
Net Property Plant And Equipment	47.52B	51.14B	54.7B	58.04B	58.61B
Long-term Investments	-	-	-	-	77M
Goodwill	6.37B	6.99B	6.54B	6.44B	6.42B
Other Intangibles, Total	322M	322M	301M	234M	181M
Deferred Tax Assets Long-Term	1.35B	1.42B	1.21B	1.16B	1.31B
Other Long-Term Assets, Total	1.59B	2.33B	2.87B	2.66B	2.2B
Total Assets	73.54B	82.78B	85.99B	87.14B	87.01B
Liabilities
Accounts Payable, Total	3.27B	3.84B	4.03B	3.85B	3.19B
Accrued Expenses, Total	5.1B	7.46B	7.72B	7.22B	7.64B
Current Portion of Long-Term Debt	-	50M	50M	51M	50M
Current Portion of Leases	1.97B	2.3B	2.48B	2.46B	2.48B
Total Current Liabilities	10.34B	13.66B	14.27B	13.59B	13.36B
Long-Term Debt	21.52B	20.3B	19.75B	19.73B	19.72B
Long-Term Leases	12.63B	13.8B	14.92B	16.09B	15.47B
Unearned Revenue Non Current	-	-	-	-	-
Pension & Other Post Retirement Benefits	5.02B	3.5B	4.45B	3.13B	2.01B
Deferred Tax Liability Non Current	3.16B	3.93B	4.09B	4.49B	4.48B
Other Non Current Liabilities	2.57B	3.41B	3.57B	4.03B	4.39B
Total Liabilities	55.24B	58.61B	61.06B	61.06B	59.42B
Common Stock, Total	32M	32M	32M	32M	32M
Additional Paid In Capital	3.36B	3.48B	3.71B	3.77B	3.99B
Retained Earnings	25.22B	29.82B	32.78B	35.26B	38.65B
Treasury Stock	-9.16B	-8.43B	-10.48B	-11.64B	-13.73B
Comprehensive Income and Other	-1.15B	-732M	-1.1B	-1.33B	-1.36B
Total Common Equity	18.3B	24.17B	24.94B	26.09B	27.58B
Total Equity	18.3B	24.17B	24.94B	26.09B	27.58B
Total Liabilities And Equity	73.54B	82.78B	85.99B	87.14B	87.01B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	262M	267M	260M	251M	244M
ECS Total Common Shares Outstanding	262M	267M	260M	251M	244M
Book Value / Share	69.84	90.4	95.98	103.86	112.9
Tangible Book Value	11.6B	16.85B	18.09B	19.42B	20.98B
Tangible Book Value Per Share	44.29	63.04	69.63	77.31	85.87
Total Debt	36.12B	36.46B	37.19B	38.33B	37.72B
Net Debt	31.24B	29.38B	30.3B	31.48B	30.86B
Debt Equivalent of Unfunded Proj. Benefit Obligation	3.75B	2.12B	3.16B	2.01B	903M
Debt Equivalent Oper. Leases	32.2B	36.42B	40.19B	42.13B	44.27B
Account Code - Inventory Valuation	6	6	6	6	6
Inventories - Others	907M	936M	997M	880M	902M
Machinery, Total	45B	48.56B	52.61B	56.14B	58.97B
Full Time Employees	324K	384K	345K	328K	306K
Part Time Employees	176K	186K	202K	201K	199K
Accumulated Allowance for Doubtful Accounts (Supple)	175M	358M	340M	472M	436M

Fiscal Period: May	2020	2021	2022	2023	2024
Net Income	1.29B	5.23B	3.83B	3.97B	4.33B
Depreciation & Amortization - CF	3.55B	3.74B	3.92B	4.12B	4.24B
Amortization of Goodwill and Intangible Assets - (CF)	66M	49M	52M	52M	47M
Depreciation & Amortization, Total	3.62B	3.79B	3.97B	4.18B	4.29B
(Gain) Loss From Sale Of Asset	-	-	-	-	-
(Gain) Loss on Sale of Investments - (CF)	-	-	-	-	-
Asset Writedown & Restructuring Costs	435M	102M	53M	140M	183M
Stock-Based Compensation (CF)	168M	200M	190M	182M	163M
Provision and Write-off of Bad Debts	442M	577M	403M	696M	421M
Other Operating Activities, Total	3.24B	2.1B	4.51B	2.82B	2.36B
Change In Accounts Receivable	-1.33B	-1.39B	-310M	782M	-270M
Change In Accounts Payable	-1.79B	71M	-1.86B	-3.33B	-2.55B
Change in Other Net Operating Assets	-974M	-554M	-948M	-591M	-608M
Cash from Operations	5.1B	10.14B	9.83B	8.85B	8.31B
Capital Expenditure	-5.87B	-5.88B	-6.76B	-6.17B	-5.18B
Sale of Property, Plant, and Equipment	22M	102M	94M	84M	114M
Cash Acquisitions	-	-228M	-	-	-
Divestitures	-	-	-	-	-
Investment in Marketable and Equity Securities, Total	-	-	-147M	-84M	-138M
Cash from Investing	-5.85B	-6.01B	-6.82B	-6.17B	-5.2B
Long-Term Debt Issued, Total	6.56B	4.21B	-	-	-
Total Debt Issued	6.56B	4.21B	-	-	-
Long-Term Debt Repaid, Total	-2.55B	-6.32B	-161M	-152M	-147M
Total Debt Repaid	-2.55B	-6.32B	-161M	-152M	-147M
Issuance of Common Stock	64M	740M	184M	231M	491M
Repurchase of Common Stock	-3M	-	-2.25B	-1.5B	-2.5B
Common Dividends Paid	-679M	-686M	-793M	-1.18B	-1.26B
Common & Preferred Stock Dividends Paid	-679M	-686M	-793M	-1.18B	-1.26B
Other Financing Activities, Total	-9M	-38M	-1M	1M	-11M
Cash from Financing	3.38B	-2.09B	-3.02B	-2.6B	-3.43B
Foreign Exchange Rate Adjustments	-70M	171M	-187M	-118M	-41M
Net Change in Cash	2.56B	2.21B	-190M	-41M	-355M
Supplemental Items
Cash Interest Paid	639M	819M	695M	694M	744M
Cash Income Tax Paid (Refund)	36M	1.32B	177M	1.04B	1.43B
Levered Free Cash Flow	-1.21B	3.53B	1.19B	2.8B	3.02B
Unlevered Free Cash Flow	-793M	4.03B	1.62B	3.24B	3.49B
Change In Net Working Capital	414M	-945M	-468M	-1.04B	140M
Net Debt Issued / Repaid	4.01B	-2.11B	-161M	-152M	-147M

Fiscal Period: May	2020	2021	2022	2023	2024
Profitability
Return on Assets	2.67	6.36	4.45	4.64	5
Return on Total Capital	3.8	8.64	6.12	6.35	6.71
Return On Equity %	7.13	24.64	15.58	15.57	16.14
Return on Common Equity	7.12	24.59	15.55	15.54	16.12
Margin Analysis
Gross Profit Margin %	24.32	28.26	25.04	27.06	27.32
SG&A Margin	0.62	0.51	0.5	0.48	0.48
EBITDA Margin %	9.17	13.99	10.67	11.76	12.83
EBITA Margin %	4.04	9.53	6.48	7.19	7.99
EBIT Margin %	3.94	9.48	6.42	7.13	7.94
Income From Continuing Operations Margin %	1.86	6.23	4.09	4.41	4.94
Net Income Margin %	1.86	6.23	4.09	4.41	4.94
Net Avail. For Common Margin %	1.86	6.22	4.08	4.4	4.93
Normalized Net Income Margin	1.9	5.35	3.6	4.04	4.65
Levered Free Cash Flow Margin	-1.75	4.21	1.27	3.11	3.44
Unlevered Free Cash Flow Margin	-1.15	4.8	1.73	3.59	3.98
Asset Turnover
Asset Turnover	1.08	1.07	1.11	1.04	1.01
Fixed Assets Turnover	1.78	1.7	1.77	1.6	1.5
Receivables Turnover (Average Receivables)	7.2	7.57	7.81	8.18	8.65
Inventory Turnover (Average Inventory)	93.12	103.93	114.54	105.98	104.65
Short Term Liquidity
Current Ratio	1.58	1.51	1.43	1.37	1.36
Quick Ratio	1.45	1.4	1.31	1.25	1.27
Operating Cash Flow to Current Liabilities	0.49	0.74	0.69	0.65	0.62
Days Sales Outstanding (Average Receivables)	50.81	48.19	46.71	44.64	42.31
Days Outstanding Inventory (Average Inventory)	3.93	3.51	3.19	3.44	3.5
Average Days Payable Outstanding	22	21.54	20.48	21.87